German Factory Orders Plunge

Angela Merkel GermanySean Gallup/Getty ImagesGerman chancellor Angela Merkel.

BERLIN (AP) — German factory orders were down in June compared to the previous month due to a decrease of large orders.

The Federal Statistics Office said Wednesday that industrial orders were 3.2 per cent lower than in May, when they also fell by 1.6 per cent.

Orders from inside Germany dropped 1.9 per cent and those from countries outside the euro zone fell by 4.1 per cent.

New orders from other countries in the 18-nation Eurozone fell by 10.4 per cent.

The Federal Statistics Office said that geopolitical developments and risks were a likely cause for the decrease in new orders and that they expected only moderate development in the coming months.

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